Total monthly cost of ownership
Cost to Own a Home in Story City, Iowa
A $206,000 home here costs
$1,844per month, all in, with 20% down at today's 7.40% 30-year fixed rate. By the 28% rule that takes a household income of about $79,000 a year.
A standard mortgage calculator would have told you $1,141. The real number is $703 higher every month, 62% more than the payment most buyers budget for.
Compare Story County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Story City from a five-year rolling sample, and with about 3,363 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Story County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Story City against Story County and Iowa
| Measure | Story City | Story County |
|---|---|---|
| Median home value | $205,800 | $243,600 |
| Median property tax | $2,890 | $3,586 |
| Effective tax rate | 1.404% | 1.472% |
| Median gross rent | $956 | $1,019 |
| Population | 3,363 | 98,592 |
The weather behind that power bill
Story City sits in Story County, which averages a high of 83.9°F in its hottest month and a low of 10.9°F in its coldest, with 35.91" of precipitation a year and 41% of it in a single three-month stretch. That climate drives 786 cooling and 6,748 heating degree days, which is what sets the $133 electricity line above.
See the full climate breakdown for Story County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Story County
Talk to someone who works this market
These are Story City averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Story City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Story City I already own here and may sell
Common questions
How much does it cost to own a home in Story City?
A $206,000 home in Story City, Iowa costs approximately $1,844 per month with 20% down at 7.4%. That is $1,141 principal and interest, $241 property tax, $90 homeowners insurance, $201 utilities and $172 set aside for maintenance.
What is the property tax rate in Story City?
Story City has an effective property tax rate of 1.404%, based on a median home value of $205,800 and median real estate taxes of $2,890. That is lower than the Story County average of 1.472%.
What is the average home price in Story City?
The median owner-occupied home value in Story City, Iowa is $205,800, against $243,600 across Story County.
Is it cheaper to rent or buy in Story City?
Median gross rent in Story City is $956 a month, against $1,844 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Story City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Story City, Iowa at today's rate takes a household income of roughly $79,000 a year. That covers the full $1,844 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Story City, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Iowa.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.